Good morning, everyone, and nice to see you again after the extended, year-end break. We hope you had a chance to enjoy the respite. Nothing like a little time to enjoy and contemplate, yes? Now, though, the familiar routine of meetings, deadlines, and whatnot has returned. You knew this was coming, after all. So please join us as we quaff the mandatory cups of stimulation. And, as always, here are some catch-up tidbits. Hope your year gets off to a smashing start and please do stay in touch. We enjoy the tips and insights. Have a great day …
Shire is in advanced talks to acquire Baxalta for about $32 billion in cash and stock, but excluding debt, according to Bloomberg News. A deal may be announced as soon as this week. Last summer, Baxalta rejected a $30 billion all-stock bid. Shire, you may recall, has been focusing on acquiring companies with treatments for rare conditions and paid $5.9 billion for Dyax in November and $5 billion for NPS Pharmaceuticals in February.
China Animal Healthcare, which is partly owned by Eli Lilly, disclosed it was searching for five years worth of financial documents that were lost after a truck carrying the records was stolen as the driver took a lunch break, Reuters reported. The documents were stolen while in transit from a storage facility in China’s northern Hebei province to the company’s headquarters in nearby Beijing.
Cadila Healthcare is the latest Indian drug maker to face withering scrutiny from the FDA for failing to follow good manufacturing practices, The Economic Times tells us. The drug maker received a warning letter over concerns at two of its manufacturing plants, which makes Cadila the third Indian drug maker in the past three months to receive an FDA missive.
Oregon has become the first US state to allow pharmacists to prescribe birth control pills to women, and California is poised to follow suit, according to UPI.
Endo International told Vivus it’s ending a licensing and commercial supply agreement for the Stendra erectile dysfunction drug as of June 30, the Philadelphia Business Journal writes.
The UK’s National Institute for Health and Care Excellence changed its position on using Merck’s Zetia on the National Health Service, and returned to original guidelines published in 2007, Pharma Times reports.
KaloBios Pharmaceuticals, which recently fired chief executive Martin Shkreli after his arrest on charges of securities fraud, filed for Chapter 11 bankruptcy last week, Reuters noted.
Bill Ackman’s Pershing Square decreased its stake in Valeant Pharmaceuticals to 8.5 percent, citing year-end tax planning, The Wall Street Journal wrote.
Roche and India’s Glenmark Pharmaceuticals settled patent litigation over the Tarceva lung cancer drug, according to The Economic Times.
The Pennsylvania Supreme Court upheld a lower court ruling that the state is not entitled to damages for overpaying for drugs sold by Johnson & Johnson and Bristol-Myers Squibb, even though the companies “willfully violated” consumer protection laws, The Legal Intelligencer writes.
A new federal law signed last month requires Johnson & Johnson and other companies to refrain from making personal care products that contain tiny bits of plastic called microbeads as of July 2017, The Toledo Blade says.